Sphere Entertainment (NYSE:SPHR) Given New $158.00 Price Target at Morgan Stanley

Sphere Entertainment (NYSE:SPHR) had its target price boosted by Morgan Stanley from $135.00 to $158.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also commented on the company. Bank of America upped their target price on Sphere Entertainment from $110.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Benchmark upgraded Sphere Entertainment from a “sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Guggenheim upped their target price on Sphere Entertainment from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. National Bank Financial set a $136.00 target price on Sphere Entertainment in a research report on Thursday, January 22nd. Finally, BTIG Research upped their target price on Sphere Entertainment from $110.00 to $127.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.75.

Sphere Entertainment Trading Up 1.5%

Shares of NYSE SPHR traded up $2.14 during trading on Friday, reaching $144.59. The company had a trading volume of 778,833 shares, compared to its average volume of 569,781. Sphere Entertainment has a 12 month low of $27.17 and a 12 month high of $146.37. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.34. The company’s fifty day moving average price is $120.41 and its 200-day moving average price is $98.05. The stock has a market cap of $5.13 billion, a P/E ratio of -321.32 and a beta of 1.67.

Sphere Entertainment (NYSE:SPHR) last announced its earnings results on Thursday, February 12th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of ($0.12) by $1.35. Sphere Entertainment had a negative return on equity of 8.84% and a net margin of 2.16%.The company had revenue of $394.28 million for the quarter, compared to analyst estimates of $377.60 million. During the same quarter in the prior year, the company earned ($3.49) EPS. The firm’s revenue for the quarter was up 27.9% compared to the same quarter last year. As a group, research analysts expect that Sphere Entertainment will post -2.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SPHR. Quent Capital LLC acquired a new position in Sphere Entertainment during the 3rd quarter worth approximately $30,000. ORG Partners LLC raised its stake in Sphere Entertainment by 80.1% during the 3rd quarter. ORG Partners LLC now owns 661 shares of the company’s stock worth $41,000 after buying an additional 294 shares during the period. Hollencrest Capital Management acquired a new position in Sphere Entertainment during the 4th quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd raised its stake in Sphere Entertainment by 53.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the company’s stock worth $43,000 after buying an additional 156 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Sphere Entertainment during the 4th quarter worth approximately $48,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Sphere Entertainment Company Profile

Sphere Entertainment Co (NYSE: SPHR) is a publicly traded company focused on the development and operation of large-scale immersive entertainment venues. Established as a standalone entity in early 2023 following its separation from Madison Square Garden Entertainment, Sphere leverages cutting-edge audiovisual technologies to create next-generation concert, film and cultural experiences. The company’s flagship venue in Las Vegas showcases its core capabilities, while additional projects are in various stages of development around the world.

At the Las Vegas Sphere, Sphere Entertainment has installed one of the largest LED display surfaces on the planet, wrapping audiences in 16K resolution imagery and spatial audio powered by proprietary sound systems.